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Jan 14, 2013
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he will be talking about the debt ceiling. that is the $16.7 billion ceiling we will hit up against in congress. also, possibly touching on topics like gun violence and other issues that are on the president's agenda. >> ladies and gentlemen, the president of the united states. >> please have a seat. good morning. i thought it might make sense to take some questions this week as my first term comes to an end. it has been a busy and productive for years. i expect the same thing from the next four years, and i intend to carry out the agenda i campaigned on. new security for the middle class. right now our economy is growing and our businesses are creating new jobs. we are poised for a good year. if we make smart decisions in sound investments, and as long as washington politics did not get in the way of america's progress. as a set on the campaign, one component to growing our economy and broadening opportunity for the middle class is shrinking our deficit and a balanced and responsible way. for nearly two years now i have been
he will be talking about the debt ceiling. that is the $16.7 billion ceiling we will hit up against in congress. also, possibly touching on topics like gun violence and other issues that are on the president's agenda. >> ladies and gentlemen, the president of the united states. >> please have a seat. good morning. i thought it might make sense to take some questions this week as my first term comes to an end. it has been a busy and productive for years. i expect the same thing from...
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Jan 21, 2013
01/13
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piecemeal is exactly the right word to describe the congress you are going to see on debt ceiling. the republicans in the house are talking about a short-term view of that. it certainly would avoid disaster coming up for the end of march. you will still have the issue of raising it for the long term. on the republican side there is no real appetite to do that without the reforms. same for gun-control. a lot of the agenda items that the president announced last week, the 23 executive actions you will see taken piece by piece. the easiest one to accomplish will be those that come forward the fastest, and the same for immigration reform. there is a lot that could be done and a comprehensive approach, but i think you will see that come down to the very bare minimum that both sides are able to agree on. >> let me follow up with a vote that will happen on wednesday. that will give another three months and the extension of the debt limit. weird is that position? why delay that for three months? where does that put them in march and april? >> this is an acknowledgement that they have lost
piecemeal is exactly the right word to describe the congress you are going to see on debt ceiling. the republicans in the house are talking about a short-term view of that. it certainly would avoid disaster coming up for the end of march. you will still have the issue of raising it for the long term. on the republican side there is no real appetite to do that without the reforms. same for gun-control. a lot of the agenda items that the president announced last week, the 23 executive actions you...
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Jan 13, 2013
01/13
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there are other issues that can be negotiated for spending and raising revenues and the debt ceiling should not be a part of it. host: ok, thank you for calling. here is the editorial cartoonist of the post. the idea of minting a single coin valued at $1 trillion. using that to increase the debt limit. a number of stories saying that basically, this is not going to happen. his is what is reclined -- this -- what ezra kline writes he points out that they will not mince a trillion dollar coin. if it did, the federal reserve would not accept it. at is in important point. the inclusion of the federal reserve is significant. the platinum coin idea to work, the fed would have to retreat it as a way to create currency. next call is bob from idaho, independent line. caller: good morning. as i was waking up, i turn on c- span. i heard the representative from nebraska making remarks. i would like to point out to her that ronald reagan thought the social security has nothing at all to do with the national debt. it is fine. it has nothing to do with the budget at all. ronald reagan was adamant a
there are other issues that can be negotiated for spending and raising revenues and the debt ceiling should not be a part of it. host: ok, thank you for calling. here is the editorial cartoonist of the post. the idea of minting a single coin valued at $1 trillion. using that to increase the debt limit. a number of stories saying that basically, this is not going to happen. his is what is reclined -- this -- what ezra kline writes he points out that they will not mince a trillion dollar coin. if...
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Jan 15, 2013
01/13
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ceiling issue. i know you've said you're not negotiating on it. your administration has ruled out the various ideas that have been out there -- the 14th amendment. but just this morning, one of the house democratic leaders, jim clyburn, asked you to use the 14th amendment and even said, sometimes that's what it takes. he brought up the emancipation proclamation as saying it took executive action when congress wouldn't act, and he compared the debt ceiling to that. so are you considering a plan b, and if not, why not? >> well, chuck, the issue here is whether or not america pays its bills. we are not a deadbeat nation. and so there's a very simple solution to this: congress authorizes us to pay our bills. now, if the house and the senate want to give me the authority so that they don't have to take these tough votes, if they want to put the responsibility on me to raise the debt ceiling, i'm happy to take it. mitch mcconnell, the republican leader in the senate, had a proposal like that last year, an
ceiling issue. i know you've said you're not negotiating on it. your administration has ruled out the various ideas that have been out there -- the 14th amendment. but just this morning, one of the house democratic leaders, jim clyburn, asked you to use the 14th amendment and even said, sometimes that's what it takes. he brought up the emancipation proclamation as saying it took executive action when congress wouldn't act, and he compared the debt ceiling to that. so are you considering a plan...
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Jan 19, 2013
01/13
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i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was
i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not...
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Jan 16, 2013
01/13
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the debt ceiling issue should become a partisan issue. i appeal to the republicans to realize they should not place us in that kind of jeopardy. there will be hearing. we will work on witnesses today. i hope we will be resolving who the witnesses will be. i think there'll be concentration as to who they pick and our choice, one witness out of four. host: might it be secretary geithner? guest: no. host: tony. hi, tony. caller: good morning. guest: where is olive branch? i have been across the bridge there. caller: the talk about congress and everybody is looking at discretionary spending. we're finding the black rhino but we cannot take care of grandma. otherbuilding mosques foreign countries. people have to worry about being on the street and being homeless. we send money to countries to improve their water systems. thinking about the pipes in china. money out of this country. he talked about people spending money and avoiding taxes. host: we will get a response. guest: i do not know the last figure. we do have foreign assistance. it is a
the debt ceiling issue should become a partisan issue. i appeal to the republicans to realize they should not place us in that kind of jeopardy. there will be hearing. we will work on witnesses today. i hope we will be resolving who the witnesses will be. i think there'll be concentration as to who they pick and our choice, one witness out of four. host: might it be secretary geithner? guest: no. host: tony. hi, tony. caller: good morning. guest: where is olive branch? i have been across the...
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Jan 15, 2013
01/13
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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Jan 16, 2013
01/13
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because i don't think the debt ceiling issue should become such a partisan issue. and i just appeal to the republicans who are having this retreat to realize that they should not place us in that kind of jeopardy. so there will be a hearing. we're going to work on witnesses today, settle them, and i hope the chairman and i will be resolving who will be the witnesses. they get the choice, the majority, but in this case i think there will be consternation as to who they pick and our choice. host: ok, all right. guest: we'll have one witness out of four. host: could it be secretary geithner? guest: no. host: do you think they'll call on him, the republicans? guest: no. host: tony, olive branch, mississippi. republican. hi, tony. caller: good morning. how you doing, senator? guest: where is olive branch? caller: it's down across the street from memphis, tennessee -- mississippi. guest: i've been across the bridge there. host: what's your question or comment? caller: my deal is when you talk about congress and everybody is looking at discretionary spending, i beg it dif
because i don't think the debt ceiling issue should become such a partisan issue. and i just appeal to the republicans who are having this retreat to realize that they should not place us in that kind of jeopardy. so there will be a hearing. we're going to work on witnesses today, settle them, and i hope the chairman and i will be resolving who will be the witnesses. they get the choice, the majority, but in this case i think there will be consternation as to who they pick and our choice. host:...
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Jan 17, 2013
01/13
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you have the sequestered, the debt ceiling, and you have the continuing resolution. the sequestered and debt ceiling fall on top of each other towards the end of february. these to say and republican leadership and the senate, which is served in for 12 years, you never take a hostage you cannot shoot. the problem with the house was they took hostage the cannot shoot when they took the fiscal cliff. if the republican members of congress take the debt ceiling as a hostage, it is a hostage you cannot shoot. as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the
you have the sequestered, the debt ceiling, and you have the continuing resolution. the sequestered and debt ceiling fall on top of each other towards the end of february. these to say and republican leadership and the senate, which is served in for 12 years, you never take a hostage you cannot shoot. the problem with the house was they took hostage the cannot shoot when they took the fiscal cliff. if the republican members of congress take the debt ceiling as a hostage, it is a hostage you...
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Jan 18, 2013
01/13
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ceiling conversations, days after fiscal cliff negotiations. was that deal good for poor people? >> for 30 years, we have not addressed this issue, except for the wonderful work that you and cornel are doing in these wonderful people on the panel. politics has neglected the poor. one could say that there was a war on the poor rather than a war on poverty for much of this period. the united states has by far the most poverty of any of the high-income countries as a share of the population. we have the highest in quality. we have the most entrenched underclass. we have had the biggest increases of any quality by far, and we've had the least political response of any high- income countries, so we are standing out on our own. this has been a 30-year trend of soaring in comes at the top, stagnation in the middle, and falling through the floor on the bottom, and the political system has refused to address this for 30 years. so we have reached a calamitous situation in this country, but the fact of the matter is nothing that was done at the fiscal cli
ceiling conversations, days after fiscal cliff negotiations. was that deal good for poor people? >> for 30 years, we have not addressed this issue, except for the wonderful work that you and cornel are doing in these wonderful people on the panel. politics has neglected the poor. one could say that there was a war on the poor rather than a war on poverty for much of this period. the united states has by far the most poverty of any of the high-income countries as a share of the population....
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Jan 14, 2013
01/13
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in the meantime, we deterred from the president addressing the debt ceiling, here is more on the issue from this morning's "washington journal." host: did this through the new report, we're joined by the economic policy project senior director, steve bell. director, explain this term that you use. what is the x date? guest: we called the drop dead date. that is the day all these extraordinary measures expires. that means the treasury will not have enough money to pay the next bill that comes then in full and on time. host: you try to figure when that date will hit. this is a chart from the debate, when the x date could hit. why is it a range? guest: we do not know what will happen to tax refunds. there could be some delays in getting tax refunds out. people who file their tax returns and expect to get a refund. if those refunds are delayed, will be near the end of that. host: take us back to explain how we're juggling these numbers around. we hit the debt limit on december 31st. how was treasury paying the bills? guest: they are using money called extraordinary measures. they borrow mo
in the meantime, we deterred from the president addressing the debt ceiling, here is more on the issue from this morning's "washington journal." host: did this through the new report, we're joined by the economic policy project senior director, steve bell. director, explain this term that you use. what is the x date? guest: we called the drop dead date. that is the day all these extraordinary measures expires. that means the treasury will not have enough money to pay the next bill...
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Jan 15, 2013
01/13
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he brought up the emancipation proclamation, and he compared the debt ceiling to that. are you considering this? and if not, why not? >> well, chuck, the issue here is whether or not america pays its bills. we are not a dead beat nation. so there is a very simple solution to all of this. congress authorizes us to pay our bills. now, if the house and senate want to give me authority so they do not have to take these tough votes, if they want to put the responsibility on me to raise the debt ceiling, i am happy to take it. mitch mcconnell, the republican leader in the senate, had a proposal like that last year, and i am happy to accept that, but they want to keep the responsibility, they need to go ahead and get it done. there are no magic tricks. there are no loopholes. there are no easy out. this is a matter of congress authorizes spending. they tell me you need to fund the defense department as such and such level. you need to send out social security checks. you need to make sure you are paying to care for the veterans. they lay all of this out for me. because they ha
he brought up the emancipation proclamation, and he compared the debt ceiling to that. are you considering this? and if not, why not? >> well, chuck, the issue here is whether or not america pays its bills. we are not a dead beat nation. so there is a very simple solution to all of this. congress authorizes us to pay our bills. now, if the house and senate want to give me authority so they do not have to take these tough votes, if they want to put the responsibility on me to raise the...